Kathmandu, July 7: The Asian Development Bank (ADB) has committed $165 million in concessional and policy-based loans to support Nepal’s drinking water, sanitation and customs reform projects.
The agreements were signed at the Ministry of Finance on Monday in the presence of Finance Minister Dr. Swarnim Wagle and ADB President Masato Kanda.
Finance Secretary Dr. Ghanashyam Upadhyay signed on behalf of the Government of Nepal, while ADB Country Director Arnaud Cauchois signed for the development partner.
Under the agreements, Nepal will receive a $115 million concessional loan for the Integrated Water Supply and Sewerage Management Sector Project and a $50 million policy-based loan to modernise customs administration, improve trade facilitation and support job creation.
The water and sanitation project aims to strengthen reliable and climate-resilient services while improving institutional capacity in rapidly growing urban areas. More than 850,000 people in 13 municipalities are expected to benefit directly from the project.
The customs reform financing will support the second phase of the South Asia Subregional Economic Cooperation Customs and Logistics Reforms Program, helping streamline customs procedures and strengthen Nepal’s logistics sector.
Speaking after the signing, Finance Minister Wagle thanked the ADB for its continued support to Nepal’s development priorities and said the government looked forward to expanding cooperation.
ADB President Kanda reaffirmed the bank’s commitment to Nepal, saying it would continue supporting the country in addressing economic challenges and advancing development through its long-standing partnership.
People’s News Monitoring Service
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